ABS

  • Moody’s rates first aircraft ABS in 10 years

    Moody’s rates first aircraft ABS in 10 years

    Castlelake priced the first aircraft securitization since the pandemic on Wednesday, kindling hopes of revival in a battered sector most severely hit by Covid-19. The deal is also the first aircraft transaction that Moody’s has rated in over 10 years, following a change in rating methodology by the company.

  • LendingClub becomes first bank-turned fintech

    LendingClub becomes first bank-turned fintech

    Online lender LendingClub successfully passed all the regulatory hoops required to acquire Radius Bank, the company said Tuesday morning, making it the first public US neobank. The deal will officially close February 1.

  • People news in brief

    People news in brief

    Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent

  • MEPs vote through harmonised NPL secondary market

    MEPs vote through harmonised NPL secondary market

    The European Parliament's Committee on Economic and Monetary Affairs (ECON) has voted through regulation to harmonise the secondary market for NPLs across Europe, pushing through a key stage of its Action Plan aimed at rebuilding the European economy post-pandemic.

  • Solar ABS outlook brightened by tax credit extension

    Solar ABS outlook brightened by tax credit extension

    The US solar energy market started off the New Year with a bang, fuelled by the news that solar investment tax credits will be extended for another five years. The extension will help growth in the industry and increase investor comfort in funding renewables.

  • Blue Senate committee raises risks for ABS lenders

    Blue Senate committee raises risks for ABS lenders

    A blue Senate is posing a new threat to the ABS market, as regulators and lawmakers are set to turn their focus to consumer protection. Sherrod Brown, a critic of big banks and a loud consumer rights advocate, is now favourite to chair the Senate Committee on Banking, Housing and Urban Affairs, which could lead to a stream of headline risks for lenders.

  • Fintechs to rely heavily on ABS despite switch to banking

    Fintechs to rely heavily on ABS despite switch to banking

    Online lenders have sought ways to transform themselves into banks to gain regulatory clarity and forge long term customer relationships. Regardless of the status change, the securitization market will remain a vital funding source to the challenger banks, sources say.

  • Auto issuers kick-start January ABS pipeline

    Auto issuers kick-start January ABS pipeline

    Auto ABS issuers are opening up the 2021 pipeline with four deals of various size and quality, ranging from a subprime auto transaction from Arivo Acceptance to a prime loan deal from Santander. Subprime auto credit is expected to deteriorate in the next few months as loan extension programmes continue to expire.

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